“The company continues to achieve strong operational performance” “This is due to an improvement in the company’s business results”
S&P Global Ratings Maalot today announced that it is raising its local rating for IAI to the maximum, namely ilAAA, and its international rating to BBB+, due to the improvement in IAI’s business results, and stable forecast.
S&P Maalot noted that “IAI continues to deliver strong operational results, and its backlog of orders reached a record US$16.5 billion.”
The authors of the report believe that “the public share offering is only a matter of time” and added that “the current plan involves issuing 25% of the company’s equity to the public, with the resulting income shared between the company and the State of Israel. Of this sum, some US$600-700 million will be added to the company’s cash holdings, and the remainder will go to the state.”
S&P Maalot added that IAI success is due to its experienced and specialist personnel enabling it to implement its projects on time and within budget and noted the considerable importance of the company to the State of Israel, thanks to the wide range of its military products required by the defence Ministry.
IAI Chairman of the Board, Amir Peretz:
“I am proud that during my time as Chairman of IAI’s Board, and despite the difficulties that we are facing due to economic uncertainties, we have managed to preserve the company’s human capital, faced competition both in Israel and elsewhere, and managed to improve our credit rating, which will give us additional leverage in the future to strengthen IAI’s position both at home and abroad.”
IAI’s CEO, Boaz Levy:
“IAI is helping Israel leap forward, not only in terms of its security and technology, but also economically. We are grateful to S&P Maalot for awarding IAI this all-time high rating, which clearly reflects the growth in recent years of our business parameters, despite facing many global challenges. These results are made possible by the people behind the numbers, the men and women in our company, whether workers or managers.”
IAI’s Executive VP for Finance and CFO, Eran Anchikovsky:
“The increase in IAI’s rating by the S&P international rating agency to the local maximum of AAA, and the international rating of BBB+, reflect the confidence that S&P has in the company and its financial resilience. This is due to the company’s strong financial performance, the ongoing improvement in its parameters, and in the company’s ability to generate positive income streams from ongoing business activities.”
